If You Really Want Fund Reform...
In the wake of market-timing and late-trading scandals, the mutual-fund industry is emerging as far more corrupt and conflicted than anyone believed it to be. Luckily, the fund business also has a crop of feisty shareholder advocates who are full of ideas for how the industry can get back on the straight and narrow. BusinessWeek Department Editor Lauren Young interviewed several of them: Jack Bogle, founder of Vanguard Group; Don Phillips, president of Chicago fund tracker Morningstar; and Gary Gensler, former Treasury Undersecretary and author of The Great Mutual Fund Trap.
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